1945

Asia’s economic recovery made great progress this past year. Most of the economies hit hardest by the 1997 crisis posted dramatic output gains, inflation remained low, and the signs of social distress that emerged after the crisis have visibly abated. Many countries have shared in this improved growth performance, and the region as a whole is well on its way to regaining the economic dynamism that has long been its hallmark. Still, victory cannot be declared. Economic reforms must continue. Social expenditures must rise to eliminate the blight of poverty and to extend social security coverage. And governments must strengthen their commitment to good governance.

Related Subject(s): Economic and Social Development
Sustainable Development Goals:
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